Affiliate marketing is one of my favorite ways to earn an income online. The reason for this is that the startup costs are relatively low, but the rewards are great.
If you want to do affiliate marketing, you should know the pros and cons of this business model.
In this article we will discuss both, so you can decide for yourself whether this is for you or not.
The Pros of Affiliate Marketing
# 1. It is a small investment
You do not have to invest much to start affiliate marketing. In fact, if you advertise products on Youtube, you can do it for free. For the cost of a domain name and hosting, only $ 100 is available for launch.
That's a hell of a lot cheaper than any other startup cost I can imagine. You do not need staff, location, electricity bill, etc. All you need is a laptop, an internet connection, and just under $ 100 to get you started.
# 2. Easy to set up
Once you've found the niche you want to work with, just get your personalized affiliate link from the vendor and display it on your website. Of course, there is much more to it, but that's essentially all that makes affiliate marketing.
# 3. Little to no experience required
You do not have to be an expert and you do not need to have experience to run affiliate marketing. There are numerous resources available online to help you grow. If you're familiar with a specific topic and find a partner program for it, then consider yourself an expert in the field.
You're just talking about your niche and providing affiliate links to products that help your readers. If you provide value, the money comes.
# 4. Passive income
My favorite is the passive income. There's nothing better than waking up in the morning and checking your stats to see how much money you've earned in your sleep. If you tell this to your friends or relatives, their heads will be buzzing.
As long as you maintain your website or blog, your affiliate marketing website should pay for years. Remember that some things are trendy. Whatever you sponsor might fade, but choosing your niche wisely could provide you with passive income for a long time.
# 5. Flexibility
There is really no limit to what you can promote. This can be anything from Amazon physical goods to information products. If there's a niche you're interested in and you want to know if there's a partner product for it, just go to Google and enter "Your niche "+ partner product. You should be able to see some results. If not, look for places like Clickbank or JVzoo, depending on what kind of niche you want to go to.
# 6 You do not have to create a product
When you create your own product, you get 100% of the sales when you sell it. However, creating a product requires a lot of effort and time and money investment. That's why I love affiliate marketing because the product has already been made and tested on the market. You just have to find the people who are interested in buying it.
# 7 Scalable
When you find a product or products that perform well, you can scale the success by incorporating other advertising strategies. It can really explode if you get it right. The other thing is to find other related products and include them in your offer to scale even more.
The disadvantages of affiliate marketing
Every business model has its drawback, but luckily, the benefits of using affiliate marketing are the disadvantages.
Here are some disadvantages of affiliate marketing that you should keep in mind.
# 1. loss of control
Since you do not own the product, the affiliate may cancel the offer at any time. You could also change the commission structure or simply stop the business. However, this is more than a pain as a disaster because you can always replace your offer with another. You only need to encrypt quickly to rebuild all your pages.
# 2. Payment delays
While some partners pay you weekly, in some cases you may have to wait a month or more to receive the payment. This is because many offers may come with a 30-day money back guarantee. Therefore, this period must elapse before you are paid. A little inconvenience, but it is understandable.
# 3. Hard work
If you do not mind the work, this should not be a problem for you. Your efforts will pay off if you stick with it. Although affiliate marketing is a simple concept, it requires you to spend time on research and your attack plan. Once you have done that, your execution will be much shorter and things will become easier.
There you have it. I hope you can now see how affiliate marketing is a business model that offers more advantages than disadvantages.
I encourage you to read my article How To Make Money With Affiliate Marketing The next step, if this is the business model that appeals to you the most.
If you want to see what my best course spies are for 2019, read my article on the best affiliate marketing courses.
Do you agree with this list of advantages and disadvantages? Would you like to add something? Comment below! Oh and share this article too!